Portfolio Investment Entities (PIE)
The new Portfolio Investment Entity (PIE) tax rules began on the 1st October 2007.
The New Zealand based managed funds which are PIE's will be exempt tax on capital gains on all New Zealand and selected Australian shares.
Investors earning $38000 per annum or less (in either of the two prior income years) from non PIE sources will be able to earn an additional $22,000 of PIE income (ie: a total of up to $60000 and still only pay tax at 19.5%.
The top tax rate in PIE will be 30% from 1 April 2008-a benefit for those on the marginal rates of 33% and 39%
If you need more information on Portfolio Investment Entities contact Temperton & Associates today on:
04 298 6025 (Int +64 4 298 6025)
